Provides for an alternate final average salary calculation for Triborough bridge and tunnel members where such calculation includes certain dates.
Summary
This bill amends the Retirement and Social Security Law to create a special final average salary calculation for Triborough Bridge and Tunnel Authority members in the New York City Employees’ Retirement System. For affected Tier 4 and Tier 6 members, if the final average salary period includes the time from the second pay period in March 2020 through the second pay period in December 2021, the calculation would use the greater of actual earnings for that period or a projected overtime amount based on 2022 overtime hours and the member’s pay rate for the period being projected.
The bill also requires members whose pensions are increased by this projected-overtime method to remit the employee contributions that would have been due on the additional overtime, but without interest, and it allows members to request a final average salary estimate and contribution estimate from NYCERS within 60 days. The act would take effect immediately.
Impact
The bill would modify pension calculation rules in section 608 of the Retirement and Social Security Law for a narrow class of public employees: Triborough Bridge and Tunnel Authority members covered by section 604-c. Its practical effect is to potentially increase pension benefits by raising final average salary for eligible members whose overtime during the COVID-19 period was lower than later overtime levels, while also increasing employer contribution costs for NYCERS and the TBTA. The fiscal note estimates a multi-year increase in employer contributions and a corresponding increase in employee contributions tied to the projected overtime adjustment.
Sentiment
The available materials suggest the bill is targeted and technical rather than broadly controversial, with the stated purpose of addressing an overtime-related pension calculation issue for a defined group of transit and bridge/tunnel workers. The fiscal note acknowledges measurable costs, but the bill text and context do not show recorded opposition, committee debate, or votes. Overall, the measure appears to be framed as a benefit correction for affected members, with the main concern being the pension cost impact.
Contention
The main point of contention is fiscal: the bill would increase pension liabilities and employer contributions, with the cost borne entirely by the Triborough Bridge and Tunnel Authority according to the fiscal note. A secondary issue is fairness and eligibility, since the bill creates a special rule only for TBTA members whose final average salary period overlaps the March 2020 to December 2021 window and who had higher overtime in 2022. The requirement that members pay additional contributions without interest may also be a point of administrative and policy interest, but no formal opposition or competing viewpoints are included in the provided record.
Same As
Provides for an alternate final average salary calculation for Triborough bridge and tunnel members where such calculation includes certain dates.
Provides a heart disease presumption for members employed by the Triborough bridge and tunnel authority as a bridge and tunnel officer, sergeant or lieutenant in a non-managerial position.
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Relates to a reduced retirement age for tier six Triborough bridge and tunnel authority employees; provides such retirement may be reduced by four months.
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